Company Report
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GTBank confirms attempted website hack, assures customers of data safety
Guaranty Trust Bank (GTBank) has addressed recent concerns regarding an attempted hacking incident on its website, following media reports that claimed hackers had cloned the bank’s website and intercepted customer data. The hacking attempt occurred shortly after the bank renewed its domain name, leading to a temporary disruption of the website and preventing customers from accessing online services. The disruption…
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NiMet DG urges integration of climate risk management in financial reporting
The Director General and Chief Executive Officer of the Nigerian Meteorological Agency (NiMet), Prof. Charles Anosike, has called on financial regulators and stakeholders to incorporate climate risk management into their financial reporting frameworks. He made this appeal while speaking as the guest of honour at the Regulatory Roundtable on the implementation of International Sustainability Standards Board (ISSB) sustainability reporting in…
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Aviation industry leaders applaud FAAN’s leadership for positive reforms
The Federal Airports Authority of Nigeria (FAAN) under the leadership of Managing Director/Chief Executive Mrs. Olubunmi Kuku has been praised for its committed efforts to improve federal airports across the country. Vice President of the Airline Operators of Nigeria (AON) and Chief Executive Officer of Air Peace, Dr. Allen Onyema, delivered a vote of confidence in FAAN’s management during a…
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LASG to boost Blue Rail Line trips to 72 daily
…Introduces 25% fare discount for off-peak travel The Lagos State Government (LASG) is set to enhance commuter experience on the Lagos Rail Mass Transit (LRMT) Blue Line by increasing the number of daily trips from 54 to 72, effective Monday, August 12, 2024. This development aims to improve travel efficiency and convenience for residents of Lagos. Engr. Mrs. Abimbola Akinajo,…
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NUPRC to amend domestic crude supply obligations regulations
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans to amend the Domestic Crude Supply Obligations (DCSO) Regulations 2023 and review the National Data Repository Regulations. The commission made this known in a notice signed by its Chief Executive, Gbenga Komolafe, on Thursday, inviting stakeholders to provide input on the proposed changes. “In accordance with Section 216 (1) of…
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Arik resumes operations after brief hiatus
Arik Air has officially resumed flight operations today, marking a return to the skies after a temporary suspension. The airline, known for its commitment to customer comfort and reliability, has been working diligently during the pause to ensure a seamless and enhanced travel experience for passengers. In a statement released by Captain Roy Ilegbodu, Chief Executive Officer of Arik Air,…
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FAAN promotes Acting Public Affairs, Protocol heads to General Manager positions
The Federal Airports Authority of Nigeria (FAAN) has announced the promotion of Mrs. Ijeoma Blessing Nwosu-Igbo and Mrs. Christabel Ebanehita Eromosele to the roles of General Manager, Public Affairs and General Manager, Protocol and Passages, respectively. According to a recent disclosure by FAAN’s Directorate of Public Procurement and Consumer Protection department, the appointments, effective from June 2024, were confirmed following…
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CBN refutes probing extortion allegation at Ecobank Nigeria
The Central Bank of Nigeria (CBN) has denied probing Ecobank Nigeria and Ecobank Transnational Inc. Specialized Resolutions Company (ETISRC) for alleged extortion. CBN denied probing the financial institution while reacting to a statement titled ‘CENTRAL BANK OF NIGERIA INVESTIGATING ALLEGATIONS OF EXTORTION AT ECOBANK NIGERIA’. According to the statement, CBN is investigating Ecobank over claims of abusive proceedings and communications…
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Dangote mulls plan to divest 12.7% stake in refinery, says report
Fitch Ratings has disclosed that Dangote Group plans to divest 12.75 per cent stake in Dangote Petroleum Refinery over liquidity challenges. In a statement on Monday, the credit rating agency said Dangote Group plans to use the proceeds from the stake sold to service a sizable syndicated loan that matures on August 31, 2024. In September 2021, NNPC acquired a…
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MTN Nigeria buyout minority shareholders in MoMo PSB for N6.95bn
MTN Nigeria Communication Plc has announced on the Nigerian Exchange Limited (NGX) that it has completed MoMo Payment Service Bank Limited’s minority shareholders buyout . According to WESTERN POST findings, the transaction worth estimated N6.95 billion. MoMo PSB is the fintech solution of MTN Nigeria which was licensed in 2022 by the CBN. MTN Nigeria had an 80% stake…
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